Synergy Asset Management LLC Sells 25,127 Shares of Graphic Packaging Holding Company (NYSE:GPK)

Synergy Asset Management LLC decreased its stake in Graphic Packaging Holding Company (NYSE:GPK - Free Report) by 39.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,216 shares of the industrial products company's stock after selling 25,127 shares during the period. Synergy Asset Management LLC's holdings in Graphic Packaging were worth $1,018,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GPK. Picton Mahoney Asset Management lifted its stake in shares of Graphic Packaging by 55.4% in the 4th quarter. Picton Mahoney Asset Management now owns 1,105 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 394 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Graphic Packaging by 92.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,432 shares of the industrial products company's stock worth $39,000 after purchasing an additional 689 shares during the last quarter. Mizuho Bank Ltd. bought a new position in Graphic Packaging during the 4th quarter worth approximately $43,000. UMB Bank n.a. raised its holdings in Graphic Packaging by 42.3% during the 1st quarter. UMB Bank n.a. now owns 2,125 shares of the industrial products company's stock worth $55,000 after purchasing an additional 632 shares during the last quarter. Finally, Park Square Financial Group LLC bought a new position in Graphic Packaging during the fourth quarter worth $79,000. 99.67% of the stock is currently owned by institutional investors.

Graphic Packaging Stock Performance

Shares of Graphic Packaging stock opened at $21.17 on Friday. Graphic Packaging Holding Company has a one year low of $20.86 and a one year high of $30.70. The firm has a market capitalization of $6.39 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 3.76 and a beta of 0.74. The business has a 50-day simple moving average of $22.98 and a 200 day simple moving average of $25.52. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.88 and a quick ratio of 0.73.

Graphic Packaging (NYSE:GPK - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.05). The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.14 billion. Graphic Packaging had a net margin of 7.15% and a return on equity of 23.68%. The company's revenue was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 EPS. On average, research analysts anticipate that Graphic Packaging Holding Company will post 2.47 earnings per share for the current fiscal year.

Graphic Packaging Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, July 5th. Shareholders of record on Sunday, June 15th will be paid a dividend of $0.11 per share. The ex-dividend date is Friday, June 13th. This represents a $0.44 dividend on an annualized basis and a yield of 2.08%. Graphic Packaging's dividend payout ratio (DPR) is presently 21.46%.

Graphic Packaging announced that its board has approved a stock repurchase program on Thursday, May 1st that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the industrial products company to repurchase up to 23.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GPK. Raymond James Financial reissued an "outperform" rating and set a $26.00 target price (down previously from $30.00) on shares of Graphic Packaging in a research note on Friday, May 2nd. UBS Group began coverage on Graphic Packaging in a research report on Wednesday, June 4th. They issued a "neutral" rating and a $24.00 price objective for the company. Truist Financial lowered their target price on Graphic Packaging from $30.00 to $28.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Finally, Royal Bank Of Canada lowered their target price on Graphic Packaging from $26.00 to $25.00 and set an "outperform" rating for the company in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $28.40.

Graphic Packaging Profile

Graphic Packaging Holding Company, together with its subsidiaries, designs, produces, and sells consumer packaging products to brands in food, beverage, foodservice, household, and other consumer products. It operates through three segments: Paperboard Manufacturing, Americas Paperboard Packaging, and Europe Paperboard Packaging.

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